MGM Responds To Claim Bruno Mars Owes $50 Million In Gambling Debt
MGM is hitting back at the claim Bruno Mars owes the casino giant $50 million in gambling debt.
A shocking report from NewsNation went viral late last week alleging the famous singer, who has an MGM residency in Las Vegas, owes a staggering $50 million in gambling debt to the company.
The claim was so viral that I had friends who barely watch the news texting me about it, and some basic math would indicate that he would have had to have wagered hundreds of millions - if not billions of dollars - on blackjack over time losing with basic strategy to hit that number. Either that or Bruno Mars is the worst gambling in human history.
It was a jarring claim that was quickly used to mock the singer. However, MGM says it's fake news.
Viral report claimed Bruno Mars is $50 million in debt to MGM. (Photo by DON EMMERT/AFP via Getty Images)
MGM hits back at Bruno Mars gambling debt claim.
Despite the fact the report spread like wildfire online, MGM claims it's complete nonsense, and there's no debt.
"We’re proud of our relationship with Bruno Mars, one of the world’s most thrilling and dynamic performers. From his shows at Dolby Live at Park MGM to the new Pinky Ring lounge at Bellagio, Bruno’s brand of entertainment attracts visitors from around the globe. MGM and Bruno’s partnership is longstanding and rooted in mutual respect. Any speculation otherwise is completely false; he has no debt with MGM. Together, we are excited to continue creating unforgettable experiences for our guests," the casino company announced in a statement, according to Billboard.
Fans will have to take MGM at its word, but having $50 million in gambling debt doesn't even make sense when you break the numbers down.
Bruno Mars has a popular MGM residency. (Photo by Kevin Mazur/Getty Images for SelvaRey)
Blackjack is the most popular casino game. Playing double-deck with the dealer standing on a soft 17 with surrender gives the house an edge of roughly .26%.
That means there's an expected loss of right around a loss of $910 per hour with a $5,000 bet per hand with 70 hands an hour.
Stop and think about how many hours you'd need to play to hit $50 million. It'd be just under 55,000 hours of play. That's more than six straight years of play. I like playing blackjack, but the math simply doesn't work out at even higher bets for Bruno Mars to fall into $50 million of debt to MGM.
Bruno Mars isn't $50 million in gambling debt, according to MGM. (Photo by Denise Truscello/Getty Images for The Recording Academy)
While it was a wild story taking social media by fire, I didn't buy it for a second, and I'm inclined to believe MGM is telling the truth? The math doesn't lie, and I just don't see Bruno Mars even having the money to make the bets necessary to have this problem. Let me know your thoughts at David.Hookstead@outkick.com.